For most people who have sold their property, it can be one of the most stressful life experiences they have experienced, leaving many people to disappear. We’ve all heard horror stories where buyers either pulled out at the last minute or dropped their price at the very last minute, leaving the seller in a situation where they might be forced to take a substantial price drop. Now, all of this can be avoided if you deal with the right people who actually want to, and more can buy your property at the price you want. Now, it may not be the easiest thing to find the right people, but if you follow my steps, you will avoid making the most of the common mistakes that many home sellers make.
Don’t overprice yourself out of the market
One of the most difficult things we face as a homeowner trying to sell our property is to get away from home. In many cases, sellers have often experienced invaluable life, family experiences throughout their years living at home that tend to cloud their judgment when it comes to selling it. This usually leads home sellers to turn down perfectly good offers made as they believe their home is worth a lot more than it is. Tip Never sign a sole sale agreement
If you plan to sell your property conventionally through a real estate agent, you may come across one of those agreements that most agents would gladly have you sign. I warn you, this does virtually nothing for you as a seller, but it gives the agent all the power they need. Basically, for those who don’t know if you, as a seller, have signed a sole sale agreement, your estate agent would be the only one with the right to sell your home. If you find a buyer yourself, you will still have to pay an agent commission.
Don’t let your emotions get the better of you
Over a long time ago, my business partner told me that selling and buying property, whether you want to live in it or rent it out, is just a simple business transaction. People often let their emotions get involved and all common sense goes out of the window, once you take full control of yourself and look at the sale of your home as a business sale, you will find that your actions are more misleading and accurate.
Make sure that your listings look great
It’s amazing how many listings there are of fuzzy photographs, unattractive photos, or little to no description. Make sure that your MLS listings highlight the most attractive features of the house in the best light, using the right angles. If possible, use Photoshop to remove unwanted items inside and outside for a clutter-free look. With a few clicks, you can turn the dark sky into a sunny day.
Use a professional sign
Avoid using cheap, “For Sale” signs that you can buy from any hardware store. They are unrecognizable and unprofessional-looking. Instead, make your signs professionally and make sure you get a solid metal framed sign that comes with a flyer holder. This allows you to place a small flyer in the right sign for the property. Even if you’re not there, people can drop by and take out a flyer to take home with them.
Make the flyer outstanding
Make sure your flyer is full-color and includes high-resolution photos of the interior of your home. If you want your property to be sold, keep the copy interesting, and outline all the benefits of your home. Allow your tenants or potential buyers to imagine themselves living in the property truly. Don’t be afraid to invite people to “imagine sitting on the deck of this wonderful Victorian home …” In other words, don’t be afraid to let your personality shine through when writing your brochure.
Get to know your market
Prepare a Comparative Market Analysis (CMA) of properties sold in your area, including currently listed properties. Find out what the price of other similar houses, and price your house within that range.
Determine your minimum price
Very few homes sell at the asking price, so keep in mind the lowest price you are willing to accept and be prepared to negotiate with any buyer who makes a reasonable offer.
You need to have the right mind when entertaining offers on your property. While you’ve invested a lot in the property, both financially and emotionally, it’s a saleable thing now. Determine the price you’re going to list as well as the bottom line you’re willing to accept. Negotiate in good faith, but stick to the figures. If the buyer criticizes a part of the property, and all of them do, don’t be offended. The buyer is not intentionally insulting you, just trying to notice what they do or don’t like when they make a purchase decision.